Today, the UAE market indices held onto technical support levels as the leading stocks showed calm movement. Non-Arab foreigners were the ones who broke this calm, pumping a net investment of about 133 million dirhams as purchase proceeds. They did this in anticipation of the last session of the first half sessions for the year 2024. The Abu Dhabi Securities Exchange index rose by 0.4% to 9,004 points, while the Dubai Securities Exchange index rose by 0.07% to 4,008 points.
The rise in the Dubai market was led by “Emaar Properties” shares, which rose by 1.63%. The closings of shares of “Dubai Islamic” and “Emirates NBD” remained stable, but “DEWA” declined by 0.89%. Support in the capital market came from “First Abu Dhabi” shares, which rose by 1.65%. Purchases by non-Arab foreigners amounted to AED 112.37 million in Abu Dhabi, compared to AED 20.55 million in Dubai.
Market liquidity recorded 1.36 billion dirhams, with traded quantities of shares amounting to 480.46 million shares.
The Abu Dhabi market index rose with shares in various sectors such as financial, real estate, communications, energy, industry and utilities rising.
In Dubai, the financial market index also rose supported by real estate and financial stocks despite declines in industry and utilities sectors.
Various companies saw both rises and falls in their share prices across different sectors.
In terms of trading nationality; foreign investors showed a tendency towards buying in Abu Dhabi while Arab Gulf and citizen investors tended towards liquidation. In Dubai Arab Gulf and foreign investors moved towards buying while national investors went towards monetization.
This shows that stock markets are dynamic and various strategies employed by different investor groups can lead to fluctuations in stock prices on a daily basis.
